BMI view: As a result of Argentina's decision to float the peso in December and its subsequent depreciationagainst major currencies, sales volumes will continue declining in 2016. The weak peso will raise prices ofimported vehicles and components but reinvigorated demand in the commercial vehicle segment will helpkeep total vehicle sales volumes from dropping significantly.

The peso's devaluation is raising final prices of new vehicles through its supply side-effects.

Mauricio Macri's presidential win will boost commercial vehicle demand in 2016 through marketchannels catering to agribusiness and infrastructure, which have benefited from a lot of investment.